Japan's Nippon Life has said it will invest Rs 1335 crore in Reliance AMC, which is the mutual fund arm of Reliance Capital. The deal has been valued at 6.4% of Reliance MF's Assset Under Management. Experts say the deal has been fairly valued and this will help Reliance Capital going forward. Following the deal, Reliance Capital shares shot up 3.5% to Rs 329.
Sources say that the money received from the deal will be used to pay off debt, which will be down to Rs 15,000 crore from Rs 20,000 crore.
